Mackenzie Financial Corp Sells 111,143 Shares of Cameco Corporation $CCJ

Mackenzie Financial Corp lessened its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 7.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,290,536 shares of the basic materials company’s stock after selling 111,143 shares during the quarter. Mackenzie Financial Corp owned 0.30% of Cameco worth $95,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CCJ. MetLife Investment Management LLC purchased a new stake in Cameco during the first quarter valued at $2,131,000. TD Asset Management Inc grew its stake in shares of Cameco by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock valued at $158,141,000 after purchasing an additional 77,081 shares during the period. Nwam LLC grew its stake in shares of Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after purchasing an additional 8,519 shares during the period. Northwest & Ethical Investments L.P. increased its position in shares of Cameco by 50.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock valued at $1,750,000 after purchasing an additional 14,154 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Cameco by 74.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock worth $2,017,000 after purchasing an additional 20,947 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

NYSE:CCJ opened at $88.74 on Friday. The business’s 50-day simple moving average is $88.92 and its two-hundred day simple moving average is $77.58. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $110.15. The stock has a market cap of $38.64 billion, a PE ratio of 102.00 and a beta of 0.98. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The business had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. Cameco has set its FY 2025 guidance at EPS. As a group, analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 1st. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 25.0%. Cameco’s dividend payout ratio (DPR) is 19.77%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CCJ. UBS Group initiated coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. National Bankshares reissued an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Scotiabank restated an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Raymond James Financial raised their target price on Cameco to $150.00 in a report on Wednesday, October 29th. Finally, CLSA assumed coverage on Cameco in a report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.75.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.